Cryptocurrencies in the Swiss Tax Return: How to Declare Them

Cryptocurrencies such as Bitcoin, Ethereum, or Cardano are now mainstream. Many investors in Switzerland hold digital assets—whether for long-term investment, trading, or even mining. But how must these cryptocurrencies be declared in the Swiss tax return?

In Switzerland, clear rules apply: cryptocurrencies are considered assets and must be reported accordingly. Depending on how they are used, they may also be considered income. This article explains the tax treatment, required documentation, and common mistakes to avoid.

Basic Tax Treatment of Cryptocurrencies

Cryptocurrencies as Assets

In Switzerland, cryptocurrencies are treated like bank balances or securities. They are considered assets and must be reported annually in the wealth and securities section of the tax return.

Tax Values

The Swiss Federal Tax Administration (SFTA) publishes an official list of cryptocurrency tax values per December 31 each year. These values form the basis for wealth taxation.

Income Tax and Cryptocurrencies

Capital Gains

Gains from the sale of cryptocurrencies by private investors are tax-free, as long as it is considered private asset management.

Professional Trading

Active traders who use leverage or handle large volumes may be classified as professional traders by the tax authorities. In this case, gains are taxable.

Mining and Staking

• Mining: Earnings from mining are considered taxable income and must be declared.
• Staking: Staking rewards are also considered income and are taxable.

Wealth Tax

All cryptocurrencies must be reported with their tax value as of December 31. This includes:

• Wallet balances
• Coins on trading platforms (e.g., Binance, Coinbase)
• Tokens with an official tax value

If no official tax value exists, the market value on December 31 must be reported.

Documentation and Proof

Wallet Statements

Wallet or account statements showing holdings as of December 31 serve as proof.

Transaction History

For mining, staking, or active trading, the tax office may request a full transaction history to verify income and holdings.

Foreign Currencies

All values must be converted to Swiss francs, using official tax values.

Practical Examples

Example 1: Private Investor

A person owns 2 Bitcoin and 10 Ethereum for long-term holding. As of December 31, 2025, the tax value is CHF 70,000. This amount is declared as assets in the tax return. Gains from the sale remain tax-free.

Example 2: Mining Income

A miner earns cryptocurrencies worth CHF 15,000 in a year. This amount is considered income and taxed together with other salary.

Example 3: Staking

An investor receives CHF 2,500 annually from staking Cardano. This must be declared as income in the tax return.

Common Mistakes and Tips

Common Mistakes

• Not declaring small wallet balances
• Assuming mining gains are tax-free
• Failing to keep proof of holdings and transactions

Tips

• Consistently declare all wallets and exchange accounts
• Use official tax values from the SFTA
• Always report mining and staking rewards as income
• If trading volumes are high, check whether professional trader status applies

Conclusion

Cryptocurrencies in Switzerland are clearly regulated: they are considered assets and must be reported in the tax return. While capital gains for private investors are tax-free, mining and staking rewards are considered taxable income.

By transparently declaring wallets and using official tax values, investors can avoid legal risks and optimize their tax situation.